Gold anchors at peak, experts neutral on gold prices this week
Come up with ideas and wave trends for today, 10/7, 2024. In my opinion, tomorrow there will be a short-term wave during the day that pushes the price up to the 2662 zone, so tomorrow you can watch for the correction wave and then watch for Buy. To watch for Buy at this wave, pay attention to the price zone of 2650 - 2647. Here, find the Buy factor, SL below the foot of the previous small wave. Because the price is within the Wyckoff boundary of the value zone, last week you can see that all your entries and trends are only within the boundary. Do not go too far to avoid the case where the entry is finished and the price goes sideways and then returns to liquidity to sweep the entry. Longer-term views from the 30-50 price range will be established when the price breaks out of the Wyckoff boundary when forming the cause and returning the result. Here, I can click and calculate the P&F of the target price to find, so avoid trading with high expectations and over-predictions. Finally, all transactions must always comply with capital management and SL. This is The most important thing that the channel always tells you is to not get too excited when you win and when SL loses, feel lucky because you lose only a part of your account, so that your mentality is comfortable and you are not afraid of losing or holding on to negative too much.
---
Jesse Colombo, an independent precious metals analyst and founder of BubbleBubble Report, believes that the price of this precious metal will trade in the range of 2,650-2,700 USD/ounce and notes that investors can buy when the price drops.
16 Wall Street experts participated in the latest Kitco News Gold Survey. Of which, 7 experts (equivalent to 44%) said that gold prices will increase this week. 3 experts (19%) predicted that gold prices will decrease. The remaining 6 (37%) believe that gold will trade sideways.
In addition, 104 retail investors, or 59%, of the 176 Main Street investors surveyed expect gold to continue its upward trend. Another 36, or 20.5%, said the yellow metal would trade lower, and the remaining 38, or 20.5%, were neutral on gold prices this week.
---
Jesse Colombo, an independent precious metals analyst and founder of BubbleBubble Report, believes that the price of this precious metal will trade in the range of 2,650-2,700 USD/ounce and notes that investors can buy when the price drops.
16 Wall Street experts participated in the latest Kitco News Gold Survey. Of which, 7 experts (equivalent to 44%) said that gold prices will increase this week. 3 experts (19%) predicted that gold prices will decrease. The remaining 6 (37%) believe that gold will trade sideways.
In addition, 104 retail investors, or 59%, of the 176 Main Street investors surveyed expect gold to continue its upward trend. Another 36, or 20.5%, said the yellow metal would trade lower, and the remaining 38, or 20.5%, were neutral on gold prices this week.
Note
💎XAUUSD BUY 2643 - 2645💎
✔️TP1: 2650
✔️TP2: 2660
✔️TP3: OPEN
🚫SL: 2638
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.